Anthropic has withdrawn pricing details for its highly anticipated stock market debut after telling bankers it planned to raise as much as $69.3bn (£53bn), before claiming the figures were inaccurate.
The Claude developer circulated a securities filing on Monday outlining plans to sell approximately 867 million shares at between $70 and $80 apiece, Reuters reported.
However, the AI giant quickly followed up with a second email stating that the pricing information was incorrect and that an updated filing would follow.
Anthropic did not specify which figures were inaccurate and declined to comment.
The original filing showed the company planned to sell around 843 million shares, with existing shareholders offering a further 23 million.
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SUBSCRIBE HEREIt also outlined $26bn in investment commitments from technology giants including Google, Nvidia, Microsoft, AMD, Broadcom, Micron and TSMC, which would participate in a private placement alongside the IPO.
The reversal comes as Anthropic prepares to begin marketing its shares to investors as soon as Tuesday, with pricing expected the following week.
Anthropic faces valuation pressure
The uncertainty follows last week’s sharp sell-off in technology stocks, which saw approximately $2.5 trillion wiped from the Nasdaq amid growing concerns over AI spending and valuations.
Anthropic had previously been expected to seek a valuation of around $1.5 trillion, although some investors have pushed for a lower figure following the market turmoil.
Meanwhile, Morningstar has estimated Anthropic’s fair value at approximately $1.7 trillion, with its forecasts ranging from $500bn to $3 trillion depending on the pace of AI adoption.
The research house said reaching its most optimistic valuation would require annual revenue growth of more than 60 per cent over the next five years.
Anthropic reported almost $17bn in revenue for the September quarter, although its sequential growth slowed and it returned to an operating loss.
The company has also disclosed nearly $900bn in future computing commitments, raising questions about the cost of sustaining its rapid expansion.
Its listing is expected to provide a major test of investor appetite for AI companies following weeks of volatility across the technology sector.